AAK Partners with Checkerspot to Develop New Sustainable Algae Oil

Checkerspot, a biotechnology company and Certified B Corporation that makes renewable oils through fermentation of microalgae for performance products and food ingredients, and AAK, a global ingredient house specialized in plant-based fats and oils, today announced a joint development agreement to develop, scale, and commercially produce an alternative source of structuring fats and oils.

Consumers and global brands continue to push for new plant-based options. The crux of the challenge is to develop new fats and oils that meet three criteria: they can be produced at scale, provide unique consumer experience, and are less vulnerable to climate change.

"Checkerspot's growing portfolio of unique oils and their expertise in microalgae fermentation make them the ideal partner for us to collaborate with to meet the growing demand for alternatives that are both functional and sustainable. Checkerspot is clearly a leader in this area and we're excited to tap into their innovation platform to develop and commercialize new oils using microalgae. The collaboration fits perfectly with our goal of offering our partners value-added and sustainable solutions," said Kim Olofsson, Global Head of R&D at AAK.

AAK is a leader in plant-based oils and fats. The company's products are used in a wide variety of applications in the food, confectionery, pharmaceutical, cosmetic, chemical and animal feed industries. AAK is committed to driving sustainability efforts through Better Sourcing, Better Operations, and Better Solutions for customers seeking planet-friendly products. AAK creates positive change and impact by playing an active role in the transition from fossil-based and animal-based raw materials to plant-based alternatives.

"With forward-thinking partners like AAK, we can bring new solutions to the table. Our team at Checkerspot is able to identify and bring a strain of microalgae all the way through product development and scale up, for a cost-effective, market-ready solution that meets demanding consumer expectations. Everything we do, including our strategic partnerships, is in service of our mission to positively impact people and the planet," said Scott Franklin, Co-founder & CSO of Checkerspot.

About Checkerspot:

At Checkerspot, we make renewable oils at commercial scale for performance materials and ingredients. We innovate at the intersection of biotechnology and materials science to deliver solutions for better products that empower both Fortune 500 companies and small businesses to achieve their decarbonization targets. Our portfolio of materials and ingredients are commercialized in three markets: industrial materials, personal care, and food and nutrition. As a Certified B Corporationtm, we believe a post-petroleum future is possible by demonstrating how biomanufactured products can drive profitability for our customers and partners by delivering performance and sustainability benefits at the right price. To learn more, visit us at checkerspot.com.

About AAK:

Everything AAK does is about Making Better Happentm. We specialize in plant-based oils and fats, the value-adding ingredients in many products people love to consume. We make these products better tasting, healthier, and more sustainable. At the heart of AAK's offer is customer co-development, combining our desire to understand what Making Better Happentm means for each customer with the unique flexibility of our production assets and deep knowledge of products and industries, including Chocolate & Confectionery, Bakery, Dairy, Plant-based Foods, Special Nutrition, Foodservice, and Personal Care. Our 4,100 employees support our close collaboration with customers through 25 regional sales offices, 16 dedicated Customer Innovation Centers, and with the support of more than 20 production facilities. Listed on Nasdaq Stockholm and headquartered in Malmö, Sweden, AAK has been Making Better Happentm for more than 150 years.